Kuala Lumpur, 19 August 2008
YTL Corporation Berhad (“YTL Corp”) today announced net profit of RM848.0 million (US$257.0 mil, based on the prevailing exchange rate of US$1.00:RM3.30) for the 12 months ended 30 June 2008, an increase of RM231.0 million (US$85.5 mil) or 11.2% compared to the previous corresponding year ended 30 June 2007. Revenue grew by 10.1% to RM6,620.1 million (US$2,006.1 mil), compared to RM6,015.3 million (US$1,822.8 mil) during the same period last year.
Commenting on the results, YTL Group Managing Director Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping said,“Improved performances from our utilities and cement businesses ensured another year of solid results, with the Group’s overseas operations in countries including the United Kingdom, Australia and Indonesia, continuing to contribute the bulk of earnings. The strength of the year’s performance has, in turn, enabled us to sustain our dividend pay-out levels, and the Group expects to be able to continue to reward long-term shareholders with dividends for future years. YTL Corp, for example, has paid dividends to its shareholders consecutively for 24 years and remains committed to its dividend policy”.
The Group’s listed utilities arm, YTL Power International Berhad (“YTL Power”), reported net profit of RM1,038.5 million (US$314.7 mil) for the 12 months ended 30 June 2008, an 11.7% decrease from RM1,175.6 million (US$356.3 mil) for the same period last year, due to an exceptional tax credit of RM132.9 million recognised in the 4th quarter of the 2007 financial year, relating to the release of a deferred tax provision arising from the change in corporation tax rates in the UK. YTL Power’s revenue increased by RM4.3% to RM4,242.6 million (US$1,285.6 mil), whilst profit before taxation increased by 6.7% to RM1,383.7 mil (US$419.3 mil), arising from better performance in all business segments, including Wessex Water Limited in the UK and P.T. Jawa Power in Indonesia.
Meanwhile, YTL Cement Berhad (“YTL Cement”), the Group’s listed cement division, achieved a 21.3% increase in net profit to RM191.6 million (US$58.1 mil) for the 12 months ended 30 June 2008, compared to RM157.9 million (US$47.9 mil) for the previous corresponding 12 months ended 30 June 2007. Revenue grew 27.1% to RM1,461.6 million (US$442.9 mil) this year, compared to RM1,150.0 million (US$348.5 mil) last year. The increase in revenue and profit are substantially attributed to overseas operations and improved operational efficiencies for the period under review, as well as better selling prices.
In property development, YTL Land & Development Berhad, recorded a decrease in net profit to RM10.87 million for the 12 months ended 30 June 2008, substantially due to increased operating costs incurred and lower other operating income receivable during the year. Revenue increased to RM333.20 million from RM223.64 million for the same period last year contributed mainly by new phases under development, namely The Centrio at Pantai Hillpark, as well as progress recognition for The Saffron, currently under construction in the Group’s Sentul urban regeneration project.
YTL e-Solutions Berhad, the Group’s technology incubator, reported a decrease in net profit to RM4.04 million for the 12 months ended 30 June 2008, compared RM5.05 million for the same period last year, due to mainly to higher operating expenses. Revenue, however, increased 25.4% to RM32.10 million for the period under review, arising from higher demand for the Group’s products and services, and consolidation of the results of recently-acquired subsidiaries.
Shareholders Rewarded with Additional Dividends
YTL Corp 5% Final Dividend Recommended
Resultant yield of 4.7%
The Board of Directors of YTL Corp recommended for shareholders’ approval a final dividend of 5% per share, less Malaysian income tax, for the year ended 30 June 2008. The book closure and payment dates will be determined and announced at a later date. YTL Corp has already paid 3 gross interim dividends of 15% per share each in respect of the 2008 financial year, in addition to the 1-for-15 restricted offer for sale of YTL Power shares to YTL Corp shareholders in January this year. These distributions combined represent a gross yield of 4.7%, based on the prevailing share price of RM6.49 per share.
YTL Power 7.5% Tax-Exempt Final Dividend Recommended
1 for 40 Share Dividend Declared
Resultant yield of 12.8%
The Board of Directors of YTL Power recommended for shareholders’ approval a final dividend of 7.5% per share, exempt from Malaysian income tax, for the financial year ended 30 June 2008. The book closure and payment dates for the final dividend will be determined and announced at a later date.
YTL Power also declared a share dividend distribution on the basis of 1 treasury share for every 40 YTL Power shares held on the entitlement date of 11 September 2008.
YTL Power has already paid 2 tax-exempt interim dividends of 7.5% per share each for 2008 financial year, in addition to the 1-for-25 share dividend distribution completed in January 2008. These distributions combined represent a gross yield of 12.8%, based on the prevailing share price of RM1.79 per share.
YTL Cement 5% Final Dividend Recommended
Resultant yield of 7.2%
The Board of Directors of YTL Cement recommended for shareholders’ approval a final dividend of 5% per share, less Malaysian income tax, for the financial year ended 30 June 2008. The book closure and payment dates will be determined and announced at a later date. YTL Cement has already declared gross 1st and 2nd interim dividends of 20% and 10% per share, respectively, for the 2008 financial year. These distributions combined represent a gross yield of 7.2%, based on the prevailing share price of RM3.46 per share.
YTL Corporation Berhad
YTL Power International Berhad
YTL Cement Berhad
YTL Land & Development Berhad
YTL e-Solutions Berhad